10 Jul '11, 11am

For the first time ever, developing countries lead yearly investment in clean energy:

For the first time ever, developing countries lead yearly investment in clean energy:

Slow and unsteady does not win the race. Cross-posted from Climate Progress . For the first time ever, developing countries lead yearly investment in clean energy -- representing about $72 billion in spending in 2010, versus $70 billion in rich countries. So while U.S. lawmakers argue about efficiency standards in lightbulbs, the 800-pound dragon, China, is dominating. Meanwhile, Brazil, India, and various Middle Eastern countries are catching up. The figures, which were put together by Bloomberg New Energy Finance for the U.N. Environment Program, show that total global investment grew by 30 percent in 2010 to $211 billion: China, with U.S. $48.9 billion in financial new investment in renewables (up 28%), was the world leader in 2010. However, other parts of the emerging world also showed strong growth: South and Central America: up 39% to U.S. $13.1 billion; Middle East ...

Full article: http://www.grist.org/renewable-energy/2011-07-10-industri...

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